While inspecting a property yesterday in the “Strawberry Manor” area of Sacramento (Del Paso Heights), I snapped the following image of a boarded-up fourplex. On Fairbanks Avenue there are four 4-plexes in a row on the Southern end of the street and they are ALL boarded as bank-owned properties.
The property above is a fourplex and is currently listed for sale at $132,900. Each of the fourplexes on Fairbanks Avenue like the one above has a total of eight bedrooms and four bathrooms (each unit is a 2/1). Another one of the group of these 4-plexes is currently pending at $129,900. It’s amazing to see such low prices when considering these sold above $300,000 in the past several years.
A quick scan of the 95838 zip code reveals the following:
- 3 Active duplex listings ranging from $69,900 to $360,000
- 10 Active Short Sale duplex listings from $69,900 to $350,000
- 7 of these listings are priced under $150,000
- 4 Active fourplex listings from $132,900 to $500,000
- 11 total pending properties (duplex and fourplex) ranging from $63,900 to $290,000.
- 8 of the 11 pendings are priced under $150,000
If you have any questions about the local real estate market or if you have any potential appraisal needs for your investments, let me know. The information above is just one sliver of the deals to be had out there. Feel free to reach me at 916-595-3735 or www.lundquistcompany.comor “ryan [at] lundquistcompany [dot] com”.